DUBAI: Dubai property developer Deyaar Development said it planned to build a combined residential and hotel project in the emirate, its first entry into the hospitality industry.
The AED900 million ($245 million) project will comprise one residential tower and one tower of serviced apartments, the company said. Construction is to start soon and be completed by the end of 2016 or early 2017.
Asked how the project would be funded, Deyaar’s CEO Saeed Al-Qatami said: “Deyaar has the sources (of funding) so far and we do have strong banking support.”
Deyaar plans $245m residential, hotel complex
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